The Hindenburg report is well researched. Shorting Adani stock won't be the thing that puts nails in Adani's coffin, but rather it is the waning confidence in Adani as these insights get absorbed by the market. It seems as though Adani is "too big to fail" which is actually helpful toward the effort to tank the shares. If Indian government is forced to bail out Adani, then the government won't do so under a structure that is beneficial to holders of today's shares. If taxpayers need to step up, then equity holders must share most of the pain.